ForexStoryteller

ForexStoryteller Updated 

Over the last few days, I've noticed price seems to respect this level, and is matching up with a clean up trend trendline. Trade is active at 99.109, open target, hedging if price gets below about 98.5. Staying fairly flexible and open, as I'm hedging and just going with the flow from the 1 hour / 4 hour/ daily and not trying to read too much into it.... Looking...

ForexStoryteller Updated 

Price is back to the 166.7 level and it looks good, taking a re-entry short to continue lower Trade is active at 166.520, hedging above 166.82

ForexStoryteller Updated 

Key Level, price hit a hard stop, going in long, target 1.114, hedge out below around 1.095. Trade is active

ForexStoryteller Updated 

Looking at the daily, it looks like a very steady range lock, and now price is near the edges of the range. A lot of strong drops have happened from this level before. I see a clear trend line broken, with a common pattern of coming to the line then dropping, so looking to short at 167.81. This is a clear mechanical divergence. Another hedge trade, so buy stop...

ForexStoryteller Updated 

Looking at the overall structure and just applying what I know about EURUSD behavior, it goes the wrong way first, so I think short from the major level at 1.1072 is a possible play for the price to move at least down to the breakout zone. Hourly is showing acknowledgement of the peak around the 1.106 starting rejection. Expecting price to run up and catch the...

ForexStoryteller Updated 

Last entry was a little too soon, but taking a look at the overall picture, we have a clear level that's held around for a while in the past, and seems to be where the tails are touching. This shows where buyers are most likely waiting. With close of the day coming soon, I would expect the open to behave as the usual eur does, and slide downward to challenge the...

ForexStoryteller Updated 

Looks like a very strong commitment to continue the uptrend, we have 2 small levels to get through, but there is a massive updised commitment off the lower uptrend line with the stop run not too long ago. there is also strong buildup above the triangle we have been trading in. Sellers want to take the price down, it's very clear, but there is just not enough of...

ForexStoryteller Updated 

It looks as if price will continue to travel downwards into the 1.093 level, and finish wiping away previous gains before rebounding and heading back up to 1.115. Entry Long at 1.0925, and use a 24 pip stop loss, set at 1.0901. Looking to target 1.114 A while back, the 1.091 level worked it way up to 1.092-3 before we came up to the most recent highs, and should...

ForexStoryteller

TLDR; Order placed at the last zone of major show of support, just under the last group of rising highs on the 5 minute chart. Target the extreme most recent high, trading for the market to break the higher levels and reach up to the highest supply zone level as the trade target, stop will be a hedge order, because we have 600 pips to the bottom if this pair is...

ForexStoryteller Updated 

Looking at a channel on the overall price action, with price near the top extreme levels of the channel. Still looking for some retracement, and with two major areas just zoomed through, it shows a serious out of balance situation in the market. Order set at the short tool, Entry 1.11069, stop above at 1.108, Traget the top clear level where the break out came...

ForexStoryteller Updated 

We have finally reached the 1.1, and will more than likely reach up to 1.102. Looking back on the daily, we see there was a strong sell off from this level around February 2, and it created a clear supply zone (top box is peak high, area above small box and below top box is supply zone). Assuming the rule of the markets typically take back gains given quickly,...

ForexStoryteller Updated 

Looking at a short term down trend/consolidation style action over the last week, and price is back between and a bit stuck, and also take into account we have already used one of the 2 major demand zones from below. Price is starting to push back into the lower ranges probably with support from the general down looking consolidation action. It will come back up...

ForexStoryteller Updated 

Looking at the overall picture we have some show of where sellers started to group in to try and make the last drive from this level, and since we have already pushed further down below the 1.091 level that was quite respected, I'm thinking more sellers will continue to try and push it down and make a downtrend. The pattern rule part: Almost every single time I...

ForexStoryteller

If you don't use your fibb tool much, (save your settings as a template first if you do) or for just a quick check to see if there is enough reward for the risk in the trade, you can set up your Fibonacci in increments of 1 (2.5 is 1:1.5) Do this as far as you like. You can extend lines left or right to check if the R Ratio you are looking for will fit this market...

ForexStoryteller

It may not seem like it is very critical, but let's use two traders as an example. Trader #1 on the left uses targets. They know the move may be way bigger than what they target, but every time they close a position, they can re-enter again, keeping a small risk for consistent reward. Trader #2 on the right wants a home run every trade, and they do not use...

ForexStoryteller Updated 

Looking at tow key levels on the chart, using the 5 minute and just taking a breakout above or below the level Short 8-12 pip stops with next level target/exhaustion of the move Quick trades, may open and close a few times, market entries, tight stops, low risk. All stops will adjust to the exact base of the breakout candle, + 3 pip spread for shorts Enter, it...

ForexStoryteller Updated 

"The ones who make the most money lose the least when they are wrong" Let's use a scalping trading style for example Say you have a set risk reward ratio of -10 pips for being wrong +30 pips for being right Start trading Loss Loss Loss Win Loss Loss Loss Loss Loss Win Loss Loss Loss Win Win Loss Loss Win Loss Loss Wow, a lot of losses, but...

ForexStoryteller Updated 

Now we have made a clear shift in where the range of price will likely want to work in. We have finally broken down the sellers from the 4 hour level and after multiple hits, it finally broke. Green supply zone left and extended right for later... we'll be back For now, looking to see a retest at the 4 hour level now from above, and once price stops and begins...